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NEWS BITES

$18 Million Malibu Spec Home in the Plans
After a year-long approvals process, a 7,900-square-foot spec home has broken ground in Malibu, California, and is listed for $18 million. The owner is Faisal Al-Harden of KMF International, a private financial services and investment company. The LEED-certified property will sit on 20 acres and include three separate residences, an infinity pool and a usable Airbus helicopter.The Real Deal Los Angeles

An Eichler Home in Marin County is Asking $1.25 Million
A San Rafael, California, home designed by popular mid-century developer Joseph Eichler has come on the market for $1.25 million. The 1964 property has been given modern upgrades but has many period details intact, including wood paneling throughout, globe lighting, and its retro sea-green exterior. The home is 1,881 square feet, and the backyard includes an in-ground pool.Curbed San Francisco

British Homeowners May Not Be Ready for an Interest Rate Rise
Though the Bank of England may be preparing to increase interest rates next week, new research from lender TSB shows that 68% of U.K. home borrowers aren’t aware of how rising rates will affect them. Meanwhile, 66% of homeowners “worry” about mortgage rates rising, but aren’t necessarily seeking out fixed-rate deals. A 0.25% interest rate increase would cost borrowers an extra £13/month (US$17/month), while switching to a fixed-rate loan could save £119/month (US$157/month), according to TSB.PropertyWire

Projects Tied to Expo 2020 Valued at $33 Billion
Dubai development tied to Expo 2020 has reached a combined value of $33 billion, according to the BNC network, with projects that include transportation infrastructure, mixed-use projects, golf courses, hospitality, commercial, and residential development. Among the different districts being created for the expo is a Dh25 billion (US$7 billion) residential area, with capacity for 1,100 low- to mid-rise buildings, and 250,000 residents. Gulf News